China's state media have praised some U.S. firms for "strong collaboration" - commentary that comes amid fears of a trade war and is reminiscent of how tensions with the U.S. were covered by Chinese newspapers during Donald Trump's first presidency.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

BEIJING, Nov 27 (Reuters) - China's state media warned U.S. President-elect Donald Trump his pledge to slap additional tariffs on Chinese goods over fentanyl flows could drag the world's top two economies into a mutually destructive tariff war.

Chinese state media has cautioned that President-elect Donald Trump’s pledge to impose additional tariffs on Chinese goods risks igniting a devastating tariff war between the world’s two largest economies.

U.S. President Joe Biden on Thursday said he hoped Trump would rethink his plan to impose tariffs on Mexico and Canada, saying it could “screw up” relationships with close allies.

Trump announced plans to impose 10% tariffs on Chinese goods “above any additional tariffs,” after blaming the country for the inflow of illegal fentanyl into the U.S.

On Truth Social, Trump alleged that Chinese inaction on illegal fentanyl was the reason behind the new 10% tariff.

WASHINGTON (Reuters) - Neither the United States nor China would win a trade war, the Chinese Embassy in Washington said on Monday, after U.S. President-elect Donald Trump threatened to slap an additional 10% tariff on all Chinese imports when he takes office on Jan. 20.

President-elect Donald Trump’s pick for the top trade position sees China as a “generational challenge” to the US and has advocated for a strategic decoupling from the country.